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Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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#1 |
Registered User
Join Date: Jun 2003
Location: springfield
Posts: 48
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?? Domain names and U.S taxes ??
How is everybody handling taxes when buying and selling domains. I sold a couple domains recently and am in the process of selling/buying more.
If I bought a domain for 1000.00 and decided to keep it, could I expense it as a lease i guess, since I really don't own it but really kind of renting it from the registar? Could I depriciate it if I decide to do nothing with the domain? If I register it for say 2 years would I split the "lease" over the 2 year period? But if I turned around and sold it for 1500.00 then I would have cost of goods sold and a profit of 500.00 so I would pay taxes on the 500.00? In california do I have to pay sales tax on domains that i sell? I'm confused. I have alot of questions for my accountant. I just talked to him, I'm not so sure he's up on this. |
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#2 |
Too lazy to set a custom title
Join Date: Jul 2002
Posts: 40,377
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__________________
I don't use ICQ anymore. |
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#3 |
Too lazy to set a custom title
Join Date: Nov 2002
Location: Earth
Posts: 14,622
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good question.or is it office equipment and we can expense the first 25k?
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